Signature Bank (NASDAQ:SBNY) had its price target increased by research analysts at Wells Fargo & Co from $135.00 to $150.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the bank’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 11.14% from the stock’s current price.
Several other research firms have also commented on SBNY. TheStreet raised Signature Bank from a “c” rating to a “b-” rating in a research report on Monday, January 28th. Raymond James set a $135.00 price objective on Signature Bank and gave the stock a “buy” rating in a report on Friday, January 18th. Deutsche Bank lifted their price objective on Signature Bank to $137.00 and gave the stock a “buy” rating in a report on Friday, January 18th. BidaskClub upgraded Signature Bank from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Finally, ValuEngine upgraded Signature Bank from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $141.33.
Shares of NASDAQ SBNY traded up $1.03 during midday trading on Friday, hitting $134.97. The stock had a trading volume of 146,425 shares, compared to its average volume of 437,042. The firm has a market capitalization of $7.33 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.09 and a beta of 1.38. Signature Bank has a 1-year low of $98.54 and a 1-year high of $157.13. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.98 and a quick ratio of 0.97.
Signature Bank (NASDAQ:SBNY) last released its quarterly earnings data on Thursday, January 17th. The bank reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.15. The business had revenue of $340.95 million for the quarter, compared to analyst estimates of $331.47 million. Signature Bank had a return on equity of 14.70% and a net margin of 29.17%. During the same period in the previous year, the company posted $2.43 EPS. On average, equities research analysts expect that Signature Bank will post 11.42 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Signature Bank by 8.7% in the fourth quarter. Comerica Bank now owns 85,887 shares of the bank’s stock valued at $13,312,000 after buying an additional 6,889 shares during the period. Parnassus Investments CA lifted its holdings in shares of Signature Bank by 22.9% in the fourth quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock valued at $220,989,000 after buying an additional 300,000 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Signature Bank in the first quarter valued at $410,000. Tdam USA Inc. lifted its holdings in shares of Signature Bank by 200.7% in the third quarter. Tdam USA Inc. now owns 12,815 shares of the bank’s stock valued at $1,641,000 after buying an additional 8,553 shares during the period. Finally, Lavaca Capital LLC acquired a new stake in shares of Signature Bank in the fourth quarter valued at $199,000. Institutional investors and hedge funds own 92.96% of the company’s stock.
Signature Bank Company Profile
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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